Shares of U.S.-listed Chinese electric automakers – Nio Inc. NIO, Xpeng Inc XPEV and Li Auto Inc LI – traded significantly higher in Hong Kong on Monday (local time).
| Stock | Movement (+/-) |
|---|---|
| Nio | 4.77% |
| Xpeng | 5.80% |
| Li Auto | 7.41% |
The Macro Factors: The stocks extended gains as investors cheered impressive sales in March. The benchmark Hang Seng Index was up nearly 1.24% at around 12:00 p.m. (local time).
See Also: Why Alibaba And Other Big Tech Stocks Are Shooting Up In Hong Kong Today
Chinese EV makers saw a strong sales rebound in March that indicates significant recovery potential for the rest of the year.
Companies In The News: Tesla’s rival Nio sold 38% more vehicles compared to last year and saw an almost 63% rebound in sales from February.
Outpacing Nio, XPeng sold 15,414 EVs in March, up almost 202% compared to a year earlier and a 148% increase from February.
In March, Li Auto sold 11,034 Li-One hybrid SUVs, a 125% hike from the same period last year and up 31% from February.
Meanwhile, China’s EV sales surged 169% to a record 2.99 million vehicles in 2021.
Dig deeper into Nio, Xpeng and Li Auto numbers on linked articles.
Photo: Courtesy of Nio
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